Infinity Natural Resources Inc. (NYSE:INR) Stock Has Consensus Price Target of $24.00 According to Brokerages

Shares of Infinity Natural Resources Inc. (NYSE:INR) have received an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, four have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $24.00.

A number of analysts recently weighed in on INR shares. Texas Capital upgraded shares of Infinity Natural Resources to a “strong-buy” rating in a research note on Thursday, June 25th. Citigroup reissued a “buy” rating on shares of Infinity Natural Resources in a research report on Wednesday, August 19th. Stephens reduced their price objective on shares of Infinity Natural Resources from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday, July 8th. Weiss Ratings raised shares of Infinity Natural Resources from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 13th. Finally, Zacks Research downgraded shares of Infinity Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, September 28th.

Insider Transactions at Infinity Natural Resources

In other Infinity Natural Resources news, Director Scott Gieselman acquired 10,000 shares of the stock in a transaction dated Tuesday, September 22nd. The stock was acquired at an average cost of $13.06 per share, with a total value of $130,600.00. Following the transaction, the director owned 123,467 shares in the company, valued at $1,612,479.02. The trade was a 8.81% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Cary Baetz acquired 22,000 shares of the company’s stock in a transaction dated Thursday, September 24th. The stock was acquired at an average price of $13.44 per share, for a total transaction of $295,680.00. Following the acquisition, the chief financial officer owned 22,000 shares in the company, valued at approximately $295,680. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 50,783 shares of company stock valued at $663,625 over the last ninety days. 40.90% of the stock is owned by company insiders.

Institutional Trading of Infinity Natural Resources

Several institutional investors have recently modified their holdings of INR. Engineers Gate Manager LP purchased a new position in shares of Infinity Natural Resources during the second quarter worth about $139,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Infinity Natural Resources in the 2nd quarter worth $1,116,000. Bank of New York Mellon Corp purchased a new stake in shares of Infinity Natural Resources in the second quarter valued at about $892,000. Versant Capital Management Inc increased its stake in shares of Infinity Natural Resources by 76.8% during the second quarter. Versant Capital Management Inc now owns 3,796 shares of the company’s stock worth $48,000 after acquiring an additional 1,649 shares during the period. Finally, Bank of America Corp DE raised its holdings in Infinity Natural Resources by 103.5% during the first quarter. Bank of America Corp DE now owns 325,748 shares of the company’s stock worth $5,736,000 after purchasing an additional 165,690 shares in the last quarter.

Infinity Natural Resources Stock Performance

NYSE:INR opened at $13.37 on Monday. Infinity Natural Resources has a fifty-two week low of $11.13 and a fifty-two week high of $19.58. The stock has a market capitalization of $847.99 million, a PE ratio of 5.35 and a beta of -0.30. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.87 and a current ratio of 0.87. The company has a fifty day moving average of $13.98 and a two-hundred day moving average of $14.37.

Infinity Natural Resources (NYSE:INR) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.86 by $0.02. Infinity Natural Resources had a return on equity of 33.39% and a net margin of 11.64%. The business had revenue of $171.02 million for the quarter. As a group, research analysts forecast that Infinity Natural Resources will post 3.43 earnings per share for the current fiscal year.

About Infinity Natural Resources

Infinity Natural Resources, Inc (NYSE: INR) is an independent oil and natural gas exploration and production company focused on the Appalachian Basin. The company develops and operates unconventional oil and gas properties, with activities concentrated primarily in Ohio and West Virginia.

Infinity Natural Resources produces natural gas, natural gas liquids and crude oil from formations including the Marcellus and Utica shale plays. Its operations include leasing acreage, drilling and completing wells, and managing related gathering and infrastructure arrangements used to transport production to market.

The company was established in 2017 and has grown through the acquisition and development of Appalachian Basin assets.